XWELL, Inc. Reports Third Quarter 2023 Results
NEW YORK, Nov. 14, 2023 (GLOBE NEWSWIRE) -- XWELL, Inc. (Nasdaq: XWEL) ("XWELL" or the "Company"), an authority in wellness solutions for people on the go, today reported results for the third quarter ended September 30, 2023.
- Third quarter 2023 results included non-cash goodwill and intangible asset impairment charges totaling approximately $6.8 million.
- Demonstrating the effect of the Company’s cost-savings initiatives, third quarter 2023 total cost of sales decreased 43% from the same quarter in 2022 and third quarter 2023 general and administrative expenses decreased 35% from the third quarter of 2022.
- Additionally, at the beginning of the third quarter of 2023, the Company began reporting operating results for HyperPointe within its XpresCheck business.
- Third quarter 2023 results included non-cash impairment charges totaling approximately $6.8 million.